The Wairarapa Daily. SATURDAY, OCTOBER 3,1885. THE TOWN LANDS TRUST LEASES.

Wairarapa Daily Times, Volume VII, Issue 2111, 3 October 1885, Page 2

The Wairarapa Daily. SATURDAY, OCTOBER 3,1885. THE TOWN LANDS TRUST LEASES.

A very important subject was disposed of at the meeting of the Town Lands Trustees last night. Three months ago tlio question was raised whether, firstly, it would not be advisable to offpr compensation to the holders of such leases as will expire within the next four or six years, for any buildings that may be erected by them; or, secondly, whether an extension of the leases should be offered to induce them to make further improvements. The latter idea was not considered at any great length, because there was a doubt whether it could be legally carried out, however desirable it might be. With regard to the second, Mr Muir moved

a resolution affirming the principle, Some good arguments were brought forward on both sides. In support, it was held that many of the sections, the leases for which would soon fall in, were capable of being greatly improved by having additional buildings erected on them, and that some of the tenants were anxious to have some., guarantee that they would be compensated at the end of their term, either by a direct payment to thorn,, or by a renewal of' their leases on equitable terras, and that, if compensation were given, it would lead to improvements,being carried out which tenants '• would not' undertake while their, leases had only a few years to run. Against the motion it was, argued that'a change-of this kind was never contemplated when the leases were issued ; that it would be very difficult, if not impossible, to make a rule that wsnld apply to all the leases, and that there was nothing to show that many of the tenants would avail themselves of the privilege, To these there might, we think, have been added another very pertinent" argument. If the Trustees undertook to make a cash payment to the outgoing tenants for improvements carried out during the last three or four years of their tenancy, they would.run a considerable risk of landing themselves in financial difficulties, and some of the public institutions to which they have hitherto given a liberal support would be the sufferers, They might also have v a difficulty in finding new tenants at a reasonable rental, and thus sustain actual loss. The Trustees individually were not averse to granting reasonable compensation for improvements, but did not see their way to making a rule on the subject, and the resolution was therefore lost. Had it been to the effect that applications for compensation should be considered on their merits as they come up, it would undoubtedly have been carried. The question will probably come on again in another form, when the scheme for dealing with separate eases will be considered. The subject' is ono of great importance to the Trust, as well as to its tenants, and the Trustees are acting wisely in avoiding all hasty dealing with it.